How do I choose which payment rails to move money over?

Learn about the differences between supported payment rails and which ones might work best for you.

Modern Treasury supports:

  • ACH credit
  • ACH debit
  • Check issuance
  • Check receipt (via lockbox)
  • wire transfers
  • SEN (Silvergate only)
  • RTP (currently only J.P. Morgan) 

Each payment rail has a unique set of specifications, requirements, and limitations. It’s best to choose a payment method that aligns to your intended use case and payment flow. Below are a few key features that differ across payment rails. 

 

 

ACH

Check/Lockbox

Wire

SEN

RTP

Direction

Credit & debit

Credit & debit (lockbox)

Credit

Credit

Credit

Days to settlement

1-2 business days

3-7 days

High priority: 10 minutes

Low priority: 2 hours

Real-time

Real-time

Reversibility

Yes

Yes (stop check)

Limited

No

No

Transaction limits

$25,000 for same-day

N/A

N/A

N/A

$100,000

Cost

Lowest

Lowest?

Highest

 

Higher